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All Forum Posts by: D Barkley

D Barkley has started 3 posts and replied 11 times.

Post: How to know, what to prize your house after rehab

D BarkleyPosted
  • Real Estate Investor
  • Gwynn Oak, MD
  • Posts 11
  • Votes 0

Let me chime in on this. Lets assume you have 5 comps (even if the sold date is missing kinda important part, also I hope these are from the same zipcode as your deal) you want to know your ARV list price. I dont see a year built of 1979 but we can work some numbers close to it. You say your doing a Full rehab ( walls, electric, plumbing,etc). Great it should show well with updates.

All five comp numbers adding = 390,600/5=78,120 avg price  sqft 8,176/5=1,632 avg sqft 

Now 78,120 avg price /1632 sqft =47.86 avg sqft

So your house is 1803 sqft x 47.86= 86,291.58 (bigger home than listing comps) Hmmm:)

Dont get happy just yet, you want this to sell fast for less to limit carrying cost.

Now if you want this to move quickly reduce it by 20% to 69,032, and this should move fast. Granted yours is fully rehabed and curb appeal is done lanscaping with mulch.  

Now if your list it with a realtor make sure you put ( a offer review 5 day period with CTKO clause for high offer purposes). Im sure you will get multiple offers with it being this low and fully renovated rehab. Good luck in Florida they have some great deals down there.